BusinessCompany NewsComputer Associates executives plead guilty

Computer Associates executives plead guilty

CEO and head of sales plead guilty in accounting fraud trial

Former Computer Associates chief Sanjay Kumar and co-defendant, former head
of sales, Stephen Richards, have pled guilty to fraud, perjury and obstruction
of justice charges in relation to the $2.2bn (£1.2bn) accounting fraud at the
company in 2004.

The two are accused of engaging in ‘systemic, company-wide practice of
falsely and fraudulently recording and reporting’ quarterly revenues associated
with licence agreements’, Computer Weekly reported.

The obstruction of justice charges related to claims that, through false
statements and concealment of information, Kumar and Richards interfered with
government investigations into alleged fraudulent accounting.

Kumar is also accused of erasing his laptop’s hard drive to destroy potential
evidence.

Computer Associates, now renamed ‘CA’, was forced to republish five years of
accounts and also agreed to pay $225m (£126m) to settle with federal
prosecutors.

Kumar and Richards’ trial is scheduled to begin on 8 May

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor